Land registry - share of a house - half or less??

pastmybest

Soneone owes me a few bob and who saythey can't afford to give me any of it yet and that they have no money or other asset. Annoying as I found out they have a share in a house and looking at my £4's worth from the land registry it does indeed show they, and one other person, own a place worth £250,000'ish.

I confronted them about this asset and they said they only onwed a 5% share and the value had gone down so pobabaly had NO equity in it.

So my question is if the LR show two owners surely it would say if the shares of ownerships were diffrent?

Welsh_Totster

If it states they hold it as joint tenants then it's half n half, if it states that they are tenants in common then it should set out the percentage each own

bristol_pilot

You can still put a charge on the house even if there is only £100 of equity in it. This might incentivise the debtor to suddenly discover that he actually does have money elsewhere to pay you off. See a solicitor if you want to go down this route.

Richard_Webster

if it states that they are tenants in common then it should set out the percentage each own

No it won't. There will simply be a restriction on disposition by a sole proprietor.

You can ask for a copy of the transfer to the proprietors (costs £12) to see whether any percentages are stipulated (they don't appear on the registers) but the transfer could simply say that the property is held as tenants in common in the shares set out in a separate trust deed and that trust deed will not be available publicly.